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I started tracking my net worth report in March 2018 when I launched this blog. I used to be an accountant and the end of every month marked a chaotic time when I had to work extra long hours to try to close all of the company’s books. Now, I look forward to the end of the month so that I can get an idea of how I spent my money for the month and how my assets are doing!
A net worth report is, in my opinion, a better alternative to having a budget because you can see exactly how much you’re worth and how you’re tracking towards your long-term savings goals. In my opinion, it’s an even better way to keep me in line with my budget than an actual budget itself.
I track all my income and expenses in USD for the purposes of keeping things simple. Over 75% of my readers are American.
Related: How To Calculate Your Net Worth
Past net worth reports
- October 2018: $750,764
- September 2018: $769,037
- August 2018: $757,748
- July 2018: $752,394
- June 2018: $748,572
- May 2018: $759,228
- April 2018: $765,059
- March 2018: $767,269
Related: The Quick and Easy Way To Start A Budget
Why do I share my net worth report?
- I want to monitor my net worth over time and hopefully see some progress
- I want to be transparent about my money goals and hold myself accountable to them
- My net worth report can inspire others to set their own net worth goals
- It’s fun to talk about money and I know people are nosey 😉
- It helps me connect with other personal finance bloggers out there
- I’m an accountant and I love talking at numbers
What this net worth report is NOT for
- I am not posting these reports to brag about how much money I have. Sure, my net worth might be considered “high” for someone my age but I also have a huge amount of debt!
- This report is solely for educational and inspirational purposes
- I’m not looking for criticism on how I spend my money. But if you have suggestions on how I can grow my savings then feel free to comment 🙂
Related: My Sixth Month Blogging – August 2018 Income Report – $382.04
October 2018 Net Worth: $750,764 USD
I’ve decided that I am only going to go into detail on these net worth reports once every quarter. The last one I did was in September 2018 and the next one will be in December 2018!
I will still update the figure every month though just for fun!
October 2018 Personal Expenses: $1,764 USD
Here are my personal expenses for the month:
In October, I spent almost 2 weeks travelling back to Canada to see my family. I then attended a 4-day conference in Chicago. Thus, by travelling and not staying in Switzerland, I actually ended up saving more money than usual! How ironic is that?!
Related: 6 Surprising Perks Of Living In An Extremely Expensive Country
Dance: I’m doing ballet classes twice a week and tap dance classes once a week. This month, I missed half of the classes since I was travelling so much. However, my professors are letting me make the missed classes up later so I’m super grateful :)!
Food: I managed to keep my food expense at less than $100. This is another low food bill month mostly because I was travelling for half the month and most of my food costs were covered by… my mom!!! She missed me so much and she kept cooking for me everyday. I’m talking, 3-4 huge meals per day rather than my usual 2 meals per day. Haha.
If you want to learn how to save money on food, read 16 Simple and Effortless Tricks To Save Money On Groceries.
Insurance: No change. I pay the same amount every month for basic health insurance (mandatory in Switzerland)!
Housing: No change.
Other: I mostly spent this money on souvenirs for friends that I haven’t seen in a while!
I also went to the Olympic museum one night with my friends.
Phone: Slightly higher than average because I had to upgrade my phone plan.
Shopping: Didn’t do any shopping this month! 2 months straight!
Transportation: I learned how to get super cheap train tickets and I am finally making use of them. I only ever take the train because having a car here would cost way too much money!
Travel: This is mostly my costs incurred while travelling to Canada. My flights were free (covered by my university for a conference that I was attending). I ate out a few times (couldn’t resist good quality sushi)! And… I paid $100 for a session with my fortune teller. Jesus! That’s probably my largest expense during that trip!
Related: How I Saved Over $11,000 Living Abroad As A Student In Switzerland
October 2018 Goals Recap
Goals
- Keep my monthly expenses below $1,500 –> Failed, but this was also because I was travelling in October!
- Spend less than $175 on food (have to stretch myself here!) –> Technically I did achieve this but it’s mostly because I was travelling and the food expenses were taken care of by my mom!
- Save $5k by November –> Yes! I actually sold my old iPad so I had some extra cash! And I managed to save almost 50% of my income for the past 2 months!
- Start investing –> Fail. I bought some Bitcoin but that was it.
Related: Where To Put Your Money: 5 Things Not Worth Saving Money On
November 2018 Goals
- Keep monthly expenses below $1,600
- Spend less than $175 on food
- Start investing
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Congrats!! May I ask how you accumulated so much at this age? When did you start, and is it from salary only, or is it also gifts (for instance inheritance etc)? Or was it a very good investment in a fund/stock/crypto?
Hi!
I definitely got lucky. Part of it was from saving my salary when I worked for 5 years. Part of it was a “gift” from my parents and the majority of it was a huge appreciation in a good investment I made (buying a house which appreciated by 60% in 2 years).
I’m terrible at investing in funds or stocks, and right now cash flow is tight so I haven’t really been doing much of it!